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Predatory Lending Glossary Definition (English)
Truth in lending disclosure Defined
The following is in context to Predatory Lending, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"A document that is required to be provided to the borrower before the mortgage transaction is signed. In a purchase transaction, it is required to be provided to the borrower within three days of the date of application. In other types of loans (e.g. refinances, second mortgages, etc.), it is ordinarily provided to the borrower at the loan closing. This document is intended to translate the legalese of the Note and Deed of Trust into understandable terms for comparison shopping, to understand loan costs, and to understand the type of loan, length of loan, and payment schedule."
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Expert Dictionary: Truth in lending disclosure
Dictionary: Truth in lending disclosure
